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Wall Street trading locked yesterday on sharp index rises due to encouraging macroeconomic data published in the United States. By the end of the trading day, the Dow Jones Industrial Average leaped up 2.3% to a level of 11,255 points, the NASDAQ index climbed up 2% to 2,549 points, whereas the S&P 500 strengthened by 1.6% to 1,206 points.
On Asia's stock markets, sharp index rises have been recorded this morning as Japan's Nikkei climbed 1.8% to its highest level in five months. In China, the Shanghai exchange rose 1.6%, while South Korea's KRX increased by 1.2%, and Hong Kong's stock exchange strengthened by 1.0%.
In the global macroeconomic arena, yesterday the Fed published its "Beige book", a periodic report on the state of the American economy. Its data showed that America's economy continued recovering due to improvements in the labor and manufacture markets. Furthermore, the growth prediction for America's economy for the next year was raised by Goldman-Sachs economists, which are currently predicting that America's GDP will rise by 2.7% during 2011, as opposed to a previous prediction of 2% growth.
In additional news from the American macroeconomic sphere, the ISM research institute stated yesterday that the procurement manager’s index for the manufacturing industry in the United States recorded a decline in November, though still remaining at a level that reflects growth in the sector's activity. The index descended last month to a level of 56.6 points, while economists predicted a decline to a level of 56.5 points.
The preliminary employment report for the United States private sector published yesterday has recorded the sharpest monthly rise in the number of employed persons for November in the last three years. According to the report, the private sector grew by 93 thousand jobs last months, this following a rise of 43 thousand jobs in October. The rise was sharper than predicted by analysts, who predicted that the private sector would grow by 70 thousand jobs in November.
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